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• Wall St gains strength, Nasdaq near its 10-year high (Reuters)
• Economic growth slows, inflation surges (Reuters)
• Exxon, Shell profits surge on higher oil prices (Reuters)
• Higher costs hit soap makers and will hit shoppers (Reuters)
• AIG sues two financial firms over CDO losses (Reuters)
• Nasdaq hits 10-year high after Fed rate decision (AFP)
• Instant View: GDP growth 1.8 percent, weekly jobless rises (Reuters)
• Viacom 2Q earnings jump, boosted by 'Jersey Shore' (AP)
• Finmeccanica 1Q earns down 92 percent (AP)
• Rate on 30-year fixed mortgage fell to 4.78 pct. (AP)
• IMF in talks with Portugal 'as long as necessary' (AFP)
• Russia bans petrol exports amid shortages (AFP)
• Rosneft Q1 net income up nearly 60% (AFP)
• Safeway 1st-quarter net income falls (AP)
• Chrysler to fully repay U.S., Canada loans (Reuters)

Wall St gains strength, Nasdaq near its 10-year high (Reuters) Posted: 28 Apr 2011 08:58 AM PDT Reuters - U.S. stocks edged up on Thursday, erasing early losses as investors brushed off disappointing economic data and bet on a further rally in equities.

Economic growth slows, inflation surges (Reuters) Posted: 28 Apr 2011 07:56 AM PDT Reuters - U.S. economic growth braked sharply in the first quarter as higher food and gasoline prices dampened consumer spending, and sent a broad measure of inflation rising at its fastest pace in 2-1/2 years.

Exxon, Shell profits surge on higher oil prices (Reuters) Posted: 28 Apr 2011 08:35 AM PDT Reuters - Exxon Mobil Corp and Royal Dutch Shell Plc posted steep jumps in first-quarter profits and beat analysts' forecasts, helped by high oil prices and buoyant refining margins.

Higher costs hit soap makers and will hit shoppers (Reuters) Posted: 28 Apr 2011 09:02 AM PDT Reuters - Makers of soap, diapers and other household products are spending much more for fuel and raw materials than expected, which means more price increases are on the way for consumers.

AIG sues two financial firms over CDO losses (Reuters) Posted: 28 Apr 2011 07:47 AM PDT Reuters - American International Group sued two money management firms on Thursday as the bailed-out insurer launched a fight to recoup billions of dollars it said it lost due to fraud.

Nasdaq hits 10-year high after Fed rate decision (AFP) Posted: 27 Apr 2011 01:54 PM PDT AFP - The Nasdaq Composite index hit its highest level in more than 10 years Wednesday as US stocks pushed upward after the Federal Reserve left interest rates unchanged.

Instant View: GDP growth 1.8 percent, weekly jobless rises (Reuters) Posted: 28 Apr 2011 06:16 AM PDT Reuters - U.S. GDP growth fell to 1.8 percent annual rate in the first quarter of 2011 after a 3.1 percent fourth quarter rise, the Commerce Department said on Thursday. Economists had expected a 2 percent growth pace.

Viacom 2Q earnings jump, boosted by 'Jersey Shore' (AP) Posted: 28 Apr 2011 09:08 AM PDT AP - "Jersey Shore" and an improved advertising market contributed to a sharp increase in Viacom Inc.'s net income for the latest quarter.

Finmeccanica 1Q earns down 92 percent (AP) Posted: 28 Apr 2011 08:48 AM PDT AP - Italian defense and aerospace company Finmeccanica SpA says first-quarter earnings dropped by 92 percent due to higher financial expenses and lower energy and aeronautics revenues.

Rate on 30-year fixed mortgage fell to 4.78 pct. (AP) Posted: 28 Apr 2011 07:30 AM PDT AP - Fixed mortgage rates dipped this week, with the rate on the 30-year loan staying under 5 percent and the 15-year loan falling below 4 percent.

IMF in talks with Portugal 'as long as necessary' (AFP) Posted: 28 Apr 2011 07:47 AM PDT AFP - The International Monetary Fund will negotiate the terms of a financial rescue with Portugal as long as it takes to reach an agreement, an IMF spokesman said on Thursday.

Russia bans petrol exports amid shortages (AFP) Posted: 28 Apr 2011 08:01 AM PDT AFP - Russia decided on Thursday to halt premium petrol exports and switch the flow to the home market to fight shortages and a price rise that is coinciding with growing voter discontent.

Rosneft Q1 net income up nearly 60% (AFP) Posted: 28 Apr 2011 08:27 AM PDT AFP - Russia's largest oil company Rosneft on Thursday handily beat analysts' expectations by reporting a 58.2 percent rise in its first quarter profits largely thanks to stronger energy prices.

Safeway 1st-quarter net income falls (AP) Posted: 28 Apr 2011 06:53 AM PDT AP - Safeway said Thursday that a tax charge related to a plan to pay down its U.S. debt cut its first-quarter net income by 74 percent, but its revenue rose, and its adjusted net income beat analyst expectations.

Chrysler to fully repay U.S., Canada loans (Reuters) Posted: 28 Apr 2011 07:49 AM PDT Reuters - Chrysler Group LLC, which came to the brink of collapse before a federal bailout in 2009, plans to fully repay more than $7 billion in loans from the U.S. and Canadian governments by the end of June.

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